For Immediate Release
Hong Kong, 12 October 1999 -- A Special General Meeting (SGM) of Li & Fung Limited, the Hong Kong-based multinational export trading group, today agreed a proposal to subdivide each of the issued and unissued shares of the Company into two subdivided shares.
The proposal - which is aimed at improving the market circulation of the shares - was announced by the Directors of the Company on 18 August 1999.
The new shares will have a par value of HK$0.05 each. Following the subdivision (and a short adjustment period), the shares will continue to be traded in board lots of 2,000 shares. The authorized share capital will remain unchanged at HK$80 million.
Trading in the new shares will open at 10:00 am on Wednesday 13 October 1999 on the Stock Exchange of Hong Kong. The market price for Li & Fung Limited shares quoted from this time will be for the new subdivided shares.
Li & Fung Limited is today one of the premier global consumer products trading companies managing the supply chain for high-volume, time-sensitive consumer goods including garments, toys and games, sporting goods, furnishings, handicrafts, travel goods and tableware. These goods are sourced through a network of 44 offices in 30 countries for customers in the US and Europe.
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